Fraunhofer spinout Nexwafe will use the capital to commercialise its silicon wafers for solar cells.
Nexwafe, a Germany-based producer of wafers for solar cells spun out of Fraunhofer Institute for Solar Energy Systems, has raised €6m ($6.7m) in series A funding provided by private equity firm Lynwood (Schweiz).
Fraunhofer Institute for Solar Energy Systems is Europe’s largest solar energy research institute. It is part of the Fraunhofer Society, a German research organisation with 67 institutes spread throughout the country.
Nexwafe creates freestanding silicon wafers for solar photovoltaic systems. The technology is compatible with common cell and module fabrication and cheaper to produce than existing wafers.
The money will go towards commercialisation of the technology, dubbed Epiwafer.
In July 2015, Nexwafe raised an undisclosed amount from Fraunhofer Venture, the investment arm of Fraunhofer Society.
